American Media Inc. announces operating results for the second fiscal quarter and six months ended Sept. 25.LANTANA lantana (lăntā`nə): see verbena. lantana Any of more than 150 shrubs that make up the genus Lantana in the verbena family, native to the New World and African tropics. , Fla.--(BUSINESS WIRE)--Oct. 26, 1995--American Media Inc. (NYSE NYSE See: New York Stock Exchange :ENQ 1. (character) ENQ - /enkw/ or /enk/ ENQuire. The mnemonic for ASCII character 5. 2. (chat) ENQ - An on-line convention for querying someone's availability. ) Thursday announced its operating results for the second fiscal quarter and six months ended Sept. 25, 1995. Revenues for the fiscal quarter were $75,721,000 compared to $85,337,000 for the same prior year period. Operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. (operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. before depreciation and amortization) for the quarter was $27,132,000 vs. $34,752,000 in the prior year. Income before income taxes for these same periods were $5,383,000 and $18,491,000, respectively. For the three months ended Sept. 25, 1995, the company earned $1,915,000, $.05 per share, compared to $10,256,000, $.25 per share, in the prior year quarter. Revenues for the six months ended Sept. 25, 1995 were $149,177,000 compared to $165,659,000 for the same prior year period, while operating cash flow was $51,649,000 vs. $64,862,000 in the prior year. Income before income taxes for these same periods were $6,292,000 and $32,363,000, respectively. For the six months ended Sept. 25, 1995, the company earned $1,027,000, $.02 per share, compared to $17,258,000, $.41 per share, in the prior year period. Peter J. Callahan, chief executive officer of the company said: "While the operating results of the second quarter of fiscal 1996 compared unfavorably with the record September fiscal 1995 quarter, operating cash flow did improve from this year's first fiscal quarter results. Circulation levels appear to have begun to stabilize in the quarter. Total operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. , despite newsprint newsprint low grade paper used for newspapers. Old newspapers are fed to cattle as an alternative roughage and may occasionally be ingested by dogs. Significant amounts of lead are accumulated in tissues; no cases of poisoning have been recorded in cattle, though it has been costs escalating $2.7 million or 33% from the prior year quarter, continue to be well contained and are down from prior year levels." American Media Inc. publishes National Enquirer En`quir´er n. 1. See Inquirer. Noun 1. enquirer - someone who asks a question asker, inquirer, querier, questioner , Star, Soap Opera Magazine Soap Opera Magazine was a weekly periodical devoted to interviews and recaps of American soap operas. The magazine was run for many years by American Media until the company, who had lost money for years, decided to cease publication of the magazine, focusing instead on , Weekly World News and Country Weekly. Distribution Services Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , provides marketing, merchandising, and information gathering services to publishing and consumer products companies and to retailers. -0-
AMERICAN MEDIA INC.
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(in thousands, except earnings per share)
Three Months Ended Six Months Ended
Sept. 25, Sept. 26, Sept. 25, Sept. 26,
1995 1994 1995 1994
Revenues $75,721 $85,337 $149,177 $165,659 Operating expenses 48,589 50,585 97,528 100,797 Depreciation and amortization 7,262 8,733 16,103 17,408 Total operating expenses 55,851 59,318 113,631 118,205 Operating income 19,870 26,019 35,546 47,454 Interest and other expense, net 14,487 7,528 29,254 15,091 Income before income taxes 5,383 18,491 6,292 32,363 Provision for income taxes 3,468 8,235 5,265 15,105 Net income $ 1,915 $10,256 $ 1,027 $ 17,258 Earnings per share $0.05 $0.25 $0.02 $0.41 Weighted average equivalent common shares outstanding 41,770 41,749 41,773 41,749 Operating cash flow: Operating income $19,870 $26,019 $ 35,546 $ 47,454 Depreciation and amortization 7,262 8,733 16,103 17,408 Operating cash flow $27,132 $34,752 $ 51,649 $ 64,862 CONTACT: American Media Inc., Lantana Richard W. Pickert, Senior V.P./CFO 407/540-1000, ext. 2100 |
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